How To Find Multi-Family Properties In 2019

How To Find Multi-Family Properties In 2019 Video

How To Find Multi-Family Properties In 2019 Video Transcript

we had a question about alright with multi-units awesome multi-tenant sounds great but how do I find these deals this video was sponsored by nothing beats being here in person meeting face to face and having that energy and not experience life what I love about Park mics is really the cash flow you only have the one building you only have the one property manager but yet you have several doors so I thought you had to have a big bankroll behind you in order to be able to do it and what I’ve learned and Whitney in bayson is that that’s just not the case you can do this anyone can do this it’s made me so much more confident as an investor because she’s there when I need her for anything this is the course designed for ladies just like you to help you move from houses into the lazy lady landlord lifestyle of apartment which is a lot more money it equals a lot more fun today we’re gonna be talking about how to find multi-unit apartment complexes or multi tenant storage facilities and I’ll tell you that I’ve got probably 10 or 15 different ways to find these deals and just like in first still done fast we’re gonna teach you how to buy houses off market the strategy is totally different with multifamily units because there’s less of them it’s easy to find a house with a for sale by owner sign in front of it you can go driving for dollars for an hour and probably find a handful of Fizbo houses but you’re gonna have to really hunt to find an apartment complex that says for sale by owner okay it just doesn’t happen but one thing you can do is you can definitely drive around and go driving for dollars to look for multifamily units instead of looking for a for sale by owner sign you look for a for rent sign because their apartments right the seller wants to rent the apartment complex but what if you called and you said hey I saw your for rent son tell me a little bit about the property you know I’d actually like to buy a property just like this would you be interested in selling it instead of written this unit you just gotta ask if you can find an apartment complex that’s got a for rent sign and you can actually talk to the seller because a lot of apartment complexes have property management companies that are running the day-to-day stuff and so when you call you’ll probably talk to the property management company but if you’re in a good honey hole if you’re out in the country there’s a really good chance that if you call on a triplex or a small multi-unit complex there’s a good chance that you’ll actually talk to the seller or the sellers brother or the sellers brother’s wife or you know somehow or another you’ll be get in touch with a seller and instead of saying yeah I’m looking at rent in this unit you could say you know honestly I’d love to buy an apartment complex would you be interested in selling yours and when you shut up and listen after you pose that question you will learn a ton of information some sellers you’re gonna say nah we just got it we’re not really interested in it some sellers will say actually I just found another apartment complex I’d love to do a 1031 exchange on this one how soon can you close some of them would say it’d be perfect but I really like the income so I’d want to owner finance it to you ching-ching-ching go driving for dollars look for for rent signs instead of for sale by owner signs and then call all right that’s one way to find off market multifamily units driving for dollars just like we do for houses another way you can find multifamily units is by looking on line our trap Lex came from Craigslist our triplex was not listed with an agent it was on Craigslist for sale by owner believe it or not people out-of-state landlords are selling their property themselves on Craigslist and Craigslist is free you can check it anytime and every time in any area of the world that’s where we found our chocolates we they had it listed for 125 and we told them that we would give them 125 if they would owner finance it to us and they said fine and in the process of getting all the paperwork started the husband decided that he didn’t want to owner financed it he just wanted to cash out and we said well our cash price is more like 90 thousand he said fine we’ll take 90 thousand instead of 125,000 but we found that deal on Craigslist get on Craigslist look and see what you can find now the third way that you can find apartment complexes is how we found our other two units Boone and landmark they were foreclosed there was a real estate agent sign in the front yard and if you listen to me go on and on about houses and you know I’m the broker for what any buys houses but if you’ve listened to anything that I’ve said about buying houses one of my rules is to stay away from listed properties but when we talk about apartments we talk about multifamily totally different set of rules totally different set of criteria and I actually enjoy working with other brokers other real estate agents other real estate professionals when we’re talking about apartment complexes because there’s more things to juggle there’s more paperwork there’s more people there’s sometimes more money in our case there wasn’t any more money than what I could buy a house for but when you’re dealing with multifamily units when you’re dealing with multi tenant situations it is hard to find deals driving for dollars and it is less likely that you’re gonna find something off market now my girls in apartment blitz the ladies in my mastermind they are finding off-market apartment deals so it’s not impossible I found my triplex off market but since there are less multifamily units out there you’re gonna have to do some different things and that includes working with real estate agents looking at the MLS looking at loopnet which is kind of like Zillow for commercial properties you’re gonna have to do some things different if you want a different outcome go driving for dollars yes but call on for rent signs instead of for self owner signs check Craigslist all day every day set up a filter so that if something hits your criteria Craigslist will email you and third the third way to find multifamily units multi-tenant situations commercial deals is to work with the real-estate agent look at the MLS look at loot net hang out with commercial brokers the the commercial brokers get a special CCIM designation which says they speak commercial real estate language don’t let that certification intimidate you use it to your advantage make friends with the CC I am so that when they know that there’s new complex coming up they’ll send it to you maybe before it’s listed as a pocket listing or maybe they’ll put you on a VIP buyers list or they’ll keep you in mind when they’re talking to sellers even if you’re looking for something owner finance it happens in commercial real estate owner financing happens a ton in commercial real estate especially when we’re talking about you know small multi families like quad plexus or even six to eight units or you know one dude has four duplexes on the same street he will probably order finance those to you now I teach other strategies I teach more systemize flows of how to do this how to talk to the CCI m’s how to negotiate how to fill out the LOI how to do all those things we cover all of that in apartment blitz I’ve got probably 10 or 15 different ways to find multifamily units but those are the top three ways and basically free ways that you can get leads just to get some multifamily ideas negotiation situations flow it around in your head I hope that helps you if you have more questions if you’re ready to get in and make some money and make some deals and rock and roll with multifamily investing all of everything that you need is on apartment blitz calm it’s a program I created for women to help you create $20,000 in passive income like that from small multifamily investing there’s even a bonus section on storage units so if you’re interested in storage units or even trailer parks or office complexes or shopping centers or whatever it is in commercial real estate that you’re interested in I will teach you how to evaluate those how to negotiate those how to get contracts on and how to go through the due diligence all the different things it’s in apartment blitz go to apartment blitz comp and here let me show you one other thing you sign up for apartment blitz you’re gonna get me about forty hours of me on videos recorded teaching you how to do these apartment deals and I mean since your Welcome Packet you know I got a present to send you right this is the workbook for apartment blitz and it’s everything that you need to know to go through the videos watch the modules and get started like actually really get started so I’m gonna send you the work it’s a pretty thick workbook and it’s got all of my apartment stuff in it so that you can use my real life examples I don’t hold anything back my real life examples are in here copies of my leases are in here there’s my residential lease agreement here’s the application for the tenant the these are my numbers on the property my expenses actually right here all about my apartments in this book more that here’s addendums that we use when we write contracts here’s the letter of intent so when you’re buying multifamily units we don’t use the one pager like we do in first still done fast which basically gives us the right to control the property we get a letter of intent and that’s what this baby is right here I got another video that I’ll go over with you on youtube or on Facebook where I talk about some or terminology that’s different from commercial real estate to residential real estate but the letter of intent is the one pager this is the golden ticket to getting those multifamily investment deals under contract so that you can move forward getting the contract done because these contracts are big all boogers and then we have a commercial seller lead sheet right here this is the front and the back of the commercial seller lead sheet this is everything that you need to ask the seller about the property but not in a script all right I hate scripts because there’s nothing conversational about it and in all of my experience I will tell you that I get a lot further in conversations with sellers and I get deals done because I have conversations with sellers I have bullet points on the seller lead sheet that I want to go through but I’m not like an IRS agent asking word-for-word going down my script and being a robot I’m a person talking to people who have problems and yes I have things that I need to know but there’s ways to get that information that has nothing to do with reading a script there’s bullet points that you need not scripts then we have an example of an operating memorandum and om a property example om offering memorandum this is what the agents put out when they have information about a property all right there’s lots of different stuff to know about commercial real estate that’s just different from residential real estate and everything you need is in apartment let’s go to apartment let’s calm I’ll send you a welcome package it’ll come in a bright pink box just like those it’ll have apartment with workbook it’ll have a whole stack of letters of intent because I want you to start writing lots of letters of intent get those properties under contract get them under an LOI so that you can move forward and get the big contract signed in commercial real estate we do a one-pager called an letter of intent an LOI before we go under the big contract and just for fun I got some other things in the apartment blitz welcome package which will come in one these bright pink boxes yeah it’ll be all pretty decorated wonderful and I’m sending this book you are a badass at making money when you want to get into commercial real estate you are ready for bigger bucks baby and Jensen Sarah wrote this book and it speaks volumes as to how to go big how to get out of your head how to adjust your mindset how to get the big deals that you want to get done how to make sure that you’re falling and getting coached the right way I love this book I think it’s very important and I send it to you included in apartment blitz it’s in the workbook and it’s super duper important it’s green because we’re after that money honey so there’s a little sneak peek of what you get in apartment blitz we also do a deal makers Club in apartment blitz once a month my husband Jason East and he’s in a video with me several videos with me here on YouTube he loves apartments just like I love houses and so he does a deal makers Club once a month in apartment blitz in our Facebook group so that we can help you analyze deals quickly so you can get the letters of intent out quickly so you can get under contract so you can start your due diligence so you can close quickly we are here to actually hold your hand guide you through the process look around look at it from a different angle make sure that you’re seeing the full picture and doing good money making deals I really want you to create that twenty thousand dollars a month in passive income and I’ll do anything and everything I can to help you Jason will do anything and everything he can to help you but you got to get started go to apartment blitz comm hit the blue Buy Now button sign up get started get excited because this is literally probably step two for a lot of you you’ve been in houses you’re you’re cool with houses but you’re ready for a new challenge go to apartment blitz comm and I’ll roll out the pink carpet for you alright if y’all have any questions let me know and don’t forget to subscribe check out the YouTube channel and go like me on Facebook all the different places drop comments if you have questions let me know other video topics you want me to cover and please please please keep going take massive crazy amounts of action inspired action and let’s get those deals done let’s make that money honey fire

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